The GBPUSD awaits new declines - Analysis - 20-09-2023
2023-09-20 03:47AM UTC

The GBPUSD pair continues to fluctuate around 1.2400 level, settling below it, while the EMA50 forms continuous negative pressure against the price, waiting to resume the bearish wave that its next main target located at 1.2310.


The bearish channel supports the continuation of the bearish wave on the longer-term basis and head to achieve negative targets that surpass the above-mentioned level, reminding you that breaching 1.2435 will lead the price to rise on the intraday basis and head to visit 1.2505 before any new negative attempt.



The expected trading range for today is between 1.2300 support and 1.2445 resistance.


The expected trend for today: Bearish

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